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Report
Missouri's Sports Betting Market: Excitement and Prospects
SportsGrid
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12/4/2024
Category
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Sports
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00:00
But I know you have an updated story over at Legal Sports Report about one of the companies
00:07
that may be live in Missouri, I guess at some point, fair?
00:12
Yeah, definitely fair.
00:13
Yeah, I don't, I don't know where exactly those December dates came from, because I
00:16
don't think there's any truth to those at any point.
00:18
I mean, the election, which we know we've talked about on the show was incredibly close.
00:23
It was within, you know, the 4%, whatever, it was a couple hundred votes really of, of,
00:29
you know, being a yes or a no.
00:30
So that's not certified until December 10th.
00:33
So I mean, the December 1st to be live would have been asinine.
00:37
But yeah, it was, we've also heard from the director that they're going to try to get
00:40
emergency regulations in place for applications in January, and hopefully be up sometime this
00:45
spring is basically what I'm hearing now.
00:47
So, you know, Missourians will get it soon enough, I suppose.
00:51
But yeah, Bett Rivers, the Rush Street Interactive CEO, Richard Swartz, had a, you know, presentation
00:57
at some event last week, and he, he was very excited about Missouri, he said, it's a great
01:01
market.
01:02
It's a lot of great sports, you know, great sports ecosystem, you got six professional
01:06
teams, Kansas City and St. Louis are both very vibrant in their support of their teams.
01:11
And he likes what it potentially, you know, holds there.
01:15
And of course, every market or every operator is going to be excited about this market,
01:18
because it's the first new market and, you know, a while now.
01:23
And so it's, of course, a good time for user acquisition, which will, of course, boost
01:26
the bottom line to all these operators.
01:29
So Bett Rivers is excited about it, which is kind of notable, because one, they're not
01:33
directly tied to any of the casino companies that have casinos in Missouri.
01:39
And I don't, I haven't gone through it exactly, but I can't recall a team partnership they
01:44
have either.
01:45
So they're gonna have to find a partner, there's plenty of slots open for them.
01:49
So we'll see where they end up and how they end up getting their license.
01:54
The other kind of notable thing is we've heard RSI talk about Bett Rivers kind of pulling
01:59
down their efforts in sports betting only states and focus more on their online casino
02:05
product, which does do very well comparatively to the other OSB operators that do have online
02:11
casino products that do well.
02:13
So that's something of note, because he also said this sets Missouri up to potentially
02:18
be a good candidate to legalize online casino in the near future, which, of course, is kind
02:23
of the big thing that every one of these companies wants, because it's so much more
02:27
lucrative than sports betting.
02:30
Of course, he put some caveats there, he said, it's not gonna be this year that they, you
02:35
know, legalize it.
02:36
Right.
02:37
We know there's gonna be a lot of unlikely efforts this year.
02:40
Right now, you know, the headwinds are against online casino for the most part.
02:45
So it's a lot of education that needs to get done, the proponents need to do to get legislators
02:51
on board and to get casino.
02:54
You know, we've talked about the cannibalism concerns of in-person casinos that they need
02:59
to kind of have fears alleviated.
03:01
So it's a it's a really interesting kind of comment from Schwartz because of that.
03:07
So anyway, a company very interested in Missouri.
03:10
I know we're going to start seeing a lot of other company executives also express their
03:14
interest and excitement for Missouri to go live.
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